Business

AfDB to aid Tanganyika infrastructure

TRYNESS MBALE, Lusaka
THE African Development Bank (AfDB) Group has approved a US$22.49 million loan for the development of Lake Tanganyika infrastructure.
The project will promote sustainable, equitable management and use of the lake’s natural resources as well as help improve the livelihoods of local communities by encouraging the development of economic infrastructure and human resources.
According to a statement availed by the bank to the Daily Mail yesterday, the implementation of the project will also strengthen market linkages and the development of value chains for the products of natural resources.
The project will be implemented over a five-year period in Mpulungu and Nsama, which surround the drainage basin of the lake and which have 157,830 inhabitants.
“The board of AfDB group approved a US$22.49 million loan to Zambia for the development of Lake Tanganyika.Unleashing the full potential of the lake’s resources will increase the incomes of rural households. Project implementation will be participative, so that local people take ownership of it and ensure its sustainability,” the statement reads.
The project is also expected to improve the fish supply by about 25 percent as well as help the locals adopt sustainable practices and technologies for the management of land, forests and water, with the goal of limiting land degradation, deforestation and boosting agricultural production.
AfDB says the project has been formulated as part of the long-term vision for Zambia by which it intends to become a prosperous middle-income country by 2030.
It says the project will help in implementing the amended Sixth National Development Plan, which covers 2013-2016 to facilitate and accelerate economic growth.
“The project should have a positive, virtuous impact on the conservation and preservation of the area’s wildlife and heritage and on specific resources, particularly the national park, which can play a role in local economic development,” the statement reads.

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